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Credo Technology Group

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finance1 month ago•17 min saved

Credo Stock Tumbles After Q1 Revenue and EPS Beat

Credo Technology Group beat Q1 revenue and non-GAAP EPS, reporting $479M in revenue (up 114.7% YoY) and non-GAAP diluted EPS of $1.20; GAAP EPS was $0.67. GAAP gross margin declined to 64.5% while non-GAAP gross margin rose to 68.0%. GAAP operating expenses rose to $188.4M; GAAP operating income $120.7M, margin 25.2%. Share-based compensation jumped to $88.0M; cash and short-term investments totaled $764.3M. For Q2, Credo guided revenue to $525–$535M with GAAP gross margin of 62.9–64.9% and GAAP Opex of $199–$204M; stock fell about 11% premarket. CEO Bill Brennan said the portfolio spans optics to copper connectivity.

via Yahoo Finance|

#credo-technology-group #finance #non-gaap-eps

finance1 month ago•19 min saved

Credo Tech Plunges After Strong Q1 as Retail Bets on Turnaround

Credo Technology Group beat on fiscal Q1 with $1.20 adjusted EPS on $479 million revenue, up 115% year over year, posting record net income and solid margins (68% gross, 48.2% operating). For fiscal Q2, management guided $525–$535 million in revenue (about 9–12% seq. growth); CFO Mark Fleming signaled an inflection in H2 FY2027 with optical revenue exceeding $600 million and total revenue growth above 85% for the year. Despite the beat, CRDO slid about 8.6% in regular trading and fell further after hours as investors weighed growth pace and valuation. Retail traders on StockTwits were notably bullish, viewing the drop as a potential buying opportunity amid Credo’s AI connectivity focus and ongoing competition in the AI interconnects space.

via Yahoo Finance|

#crdo #credo-technology-group #finance

business6 months ago•14 min saved

Credo to Acquire DustPhotonics, Boosting Silicon Photonics Roadmap

Credo Technology Group Holding Ltd announced a definitive agreement to acquire DustPhotonics for $750 million in cash and about 0.92 million Credo shares, with potential earnouts up to ~3.21 million shares; the deal accelerates Credo’s move into silicon photonics, creating a vertically integrated optical connectivity platform spanning SerDes, DSP, and Silicon Photonics for AI infrastructure. DustPhotonics provides SiPho PICs covering 400G to 1.6T (with a 3.2T roadmap), supporting hyperscale AI applications, and Credo expects >$500 million in optical revenue in fiscal 2027 with the transaction accretive to non-GAAP EPS in 2027. Close is expected in Q2 2026, subject to approvals.

via Credo Technology Group Holding Ltd - Investor Relations|

#acquisition #business #credo-technology-group